Tb ImportExport PPT Chapter11

8/10/2019 Tb ImportExport PPT Chapter11

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Tilde Publishing and DistributionISBN: 978-0-7346-0817-8

Import/Export

Mapping International Trade forAustralian Business

Customs


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Customs

One of the major roles of the Australian Customs

and Border Protection Service is to monitor and

control the legitimate movement of goods across

Australias borders. A customs broker is an individual or organisation

that is licensed by the government who acts as an

agent for an importer or exporter performingmany of the functions required for compliance

with customs regulations and procedures.


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Customs

In Australia you do not need to hold an importlicence in order to import goods of a generalnature.

Prohibited goods cannot be imported underany circumstances.

For restricted goods, importers will need to

secure permission from the relevantdepartment or agency (permit issuing agencyPIA) before proceeding with the import.


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Customs

All imports exceeding the value of A$1,000 per

consignment must be formally notified to

Customs via the lodgement of a customs

import entry.

Apart from a few exceptions, e.g. alcohol and

tobacco products, generally import duty and

GST is not payable on imported goods valuedat A$1,000 or less.


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Customs

Information supplied to Customs for the

release of imported goods and the

determination of import duty, GST and other

taxes payable falls into three broad categories:

the nature of the goods,

the value of the goods,

the origin of the goods.


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Customs

Under Tariff Concession System (TCS) an importer

may be granted a Tariff Concession Order (TCO)

for a specific item if it can be demonstrated that

no substitutable goods are manufactured inAustralia in the ordinary course of business

The Australian Customs and Border Protection

Service also operates a system that allowsimporters duty free entry of genuine handmade

goods into Australia.


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Customs

Dumping is the term used to describe the

practice of selling goods in an export market at a

price lower than the price of the same goods in

the domestic market. Remedial action may betaken by imposing a dumping duty.

A subsidy is any form of direct or indirect

financial assistance provided by a governmentthat benefits an exporter. remedial action may be

taken by imposing a countervailing duty.


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Customs

Licensed customs brokers are linked directly toCustoms via the Customs electronic datainterchange system known as the IntegratedCargo System (ICS) and lodge import entries

electronically. The electronic lodgement system in conjunction

with the self-assessment procedure ensuresvirtually instantaneous customs release of

imported goods in most cases. In some cases customs may decide to examine

cargo


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Customs

There is usually no requirement for import

documents to be submitted to customs.

However, you must retain documents for a

minimum period of five years from the date ofthe customs entry.


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Customs

The majority of goods imported into Australia

either attract a duty rate of zero or five

percent.

Exceptions apply mainly to passenger motor

vehicles and related items, textile clothing and

footwear and related items and excisable

goods such as alcohol and tobacco.


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CustomsCalculating import duty


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Customs

The indirect tax that applies the most to

importers is the Goods and Services Tax (GST)

The other two taxes that may apply are the

Wine Equalisation Tax (WET) and the Luxury

Car Tax (LCT).


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Customs

Calculating GST


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Customs

An ATA carnet provides a simplified process for

the temporary admission of a wide variety of

goods and is the document most widely used

by business for this purpose.

Applications for ATA carnets are made via a

local chamber of commerce.


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Customs

Importers must ensure that where required,goods imported for commercial purposes areadequately and accurately labelled, and include

the name of the country where the goods weremade and a true description of those goods.

If detected at the time of importation, Customscan seize imported goods that infringe

trademarks, copyrights or Olympic insignia, butonly if the owner or authorised licensee lodges aformal objection.


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Customs

Exporters must lodge an export declaration toCustoms in the following circumstances:

where the value of the export consignment is

greater than A$2,000 except for exempt goods; where there is a requirement for a permit to be

issued by a Permit Issuing Agency;

where the exported goods will be the subject of a

duty drawback claim; and where duty and excise has not yet been paid on

goods where duty and excise is payable.


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Documents

Tb ImportExport PPT Chapter11